07-28-2013 03:52 PM
I'm kinda new here and I've been reading A LOT about how credit scores are calculated!
myFICO TransUnion score on June 20th was 690.
I applied for BOA Cash Rewards card on July 1st and I was approved!!! It said my TransUnion score was 717!!!!
This is the first time I've ever seen my score above 700!!
I guess my question is, from what I've been reading, there are different models used. I assume that Bank of America uses a different model than myFICO?
And do any of you gurus here know which one they might use? I'm really excited to see that my score was higher than I thought.
07-28-2013 04:36 PM
07-28-2013 04:48 PM - edited 07-28-2013 09:42 PM
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO